⚡ TFC Newsletter: 01/26/2023
Kevin Rose Hack Explained, Web3 Security Tooling, Crypto Taxes, No-Code Tooling, Crypto Analytics, and more!
💡 Intro
Big news yesterday afternoon related to Web3 security, as Kevin Rose (founder of Digg, now founder of Proof Collective) lost millions due to a security exploit.
But first: we’d like to mention a friend’s Substack which has great posts on Web3 education (including on security):
Today’s edition is brought to you by The Syllabus from Invisible College.
The Syllabus is a 3x weekly newsletter that helps you navigate the complex world of web3. They cover the stories that are driving the space, from curated NFT market breakdowns, to nuanced takes on the latest web3 narratives, to DeFi deep-dives. When the markets are quieter, it’s time to learn.
Level up your web3 knowledge and check out The Syllabus below:
Another major hack happened yesterday, this time to one of the biggest influences in Web3: Kevin Rose.
As this was Kevin Rose’s NFT Vault wallet: millions of dollars in NFTs were lost, and if the Proof team didn’t act fast: multi 8 figures of NFTs would been taken.
What We Can Learn From The Hack:
Always double check transactions, specifically when using wallets with valuable NFTs. There are many Web3 tools to do this: Fire (featured today), Revoke.cash’s extension, Harpie, Pocket Universe, and many more. Most are free, so definitely use one!
If KR had used a tool above, it would’ve warned him that the contract he was interacting with was about to get access to every NFT he had through OpenSea.
Proper Web3 security practice is to Never Transact With Your Vault! Only send to/from your vault: and interact with contracts on a separate wallet.
Full thread on details of the hack, from the VP of Proof Collective:
Hollywood in Web3: StoryCo Raises $6M to Decentralize Storytelling - CoinDesk
Spatial Labs, a web3 infrastructure firm focused on improving metaverse and commerce, raised $10 million in a seed funding round - Techcrunch
Injective launches $150M ecosystem fund to accelerate interoperable infra and DeFi adoption - Techcrunch
Enterprise Metaverse Training Platform Gemba Raises $18M to Expand its VR as a Service Offering - NFTGators
Sui-based Ethos Wallet raises $4.2 million led by Gumi Cryptos and Boldstart - TheBlock
Welcome to TFC’s daily newsletter! Thanks for subscribing, we’re working hard to give you the best info on the most exciting crypto products.
If you’re a builder, investor, or crypto enthusiast, this will benefit you!
Note: Do you have a product or tool you’re building? Have one you’d suggest? DM us on twitter! We’re always happy to feature products from the TFC community.
Fire
"Never sign away your assets."
Type of Product: Web3 Security
Purpose of Tool: Fire is an extension that enables users to simulate transactions and understand the effects of contracts before they sign them. It provides users with a secure and user-friendly way to interact with smart contracts on the blockchain.
Simulate Transactions: Fire allows users to simulate transactions so they can see how the contracts will affect their wallet before signing them.
Block Malicious Contracts: Fire blocks known malicious contracts, ensuring users are never exposed to them.
Control Your Assets: Fire enables users to understand the effects of a contract before signing, giving them complete control over their assets.
Secure Signatures: Transactions are signed with the user's current wallet, ensuring secure signatures.
Team / Funding / Backers / Other Info: In 2021, there was an estimated $750M lost to cryptocurrency fraud . Fire was created to protect cryptocurrency users from fraud, a free extension that works with any Ethereum wallet, showing users exactly what will enter and exit their wallet before they sign a transaction.
Link to product | Link to TFC listing
CherryPick
“Providing blockchain insights for ERC-20 tokens"
Type of Product: Analytics
Purpose of Tool: CherryPick is a blockchain insights platform that provides data and analytics for ERC-20 tokens. It helps investors and traders make better decisions by offering a range of features such as:
Realised Capitalisation: An indication of the amount of money stored in the token market, calculated by multiplying each coin by its last moved price.
SOPR in Profit/Loss: A chart that shows the SOPR for both profitable and unprofitable transactions.
Volume Locked in Smart Contracts: A metric showing the total volume of coins locked in all smart contracts on Ethereum.
Smart Contracts In/Out/Netflow: Insights into the number of coins locked in smart contracts, and their movements.
Realised Profits & Losses in native token term: The amount of coins sold at a profit or loss in the time period.
Filtering Smart Contracts & Exchanges: A breakdown of the supply or realised cap belonging to smart contracts, exchanges, and the rest of the addresses.
Team / Funding / Backers / Other Info:
Link to product | Link to TFC listing
Bunzz
“Deploy Smart Contracts in Demand With a GUI"
Type of Product: Developer Tool
Purpose of Tool: Bunzz is a platform that makes building the on-chain side of DApps easy and accessible even for those without specific knowledge of blockchain or web3 technology. It's a 'Blockchain Backend as a Service' and 'Smart Contract as a Service' providing a number of features to streamline the development process.
Bunzz Console: Deploy smart contracts in minutes.
Bunzz SDK: Interact with smart contracts easily with the front-end app.
Bunzz Smart Contract Hub: Create module templates.
Bunzz Monitoring: Monitor smart contracts deployed and get metrics.
The Bunzz platform provides a powerful analytics system for tracking your DApp's usage. Once your DApp is published, their SDK captures data on user activity and stores it. All of this information is available to view in the Bunzz Dashboard.
Team / Funding / Backers Info / Transaction Amount: Bunnz recently closed a $4.5M seed round. The round was led by gjmp, and other investors included DG Daiwa Ventures, Coincheck, and Ceres. The funds will be used to further develop Bunzz's Smart Contract Hub, which has already been adopted by over 8,000 DApp developers.
Since its launch 11 months ago, Bunzz has been featured on the Coinbase web3 development infrastructure chaos map and was also a finalist in Icetea Lab, Singapore’s largest web3 accelerator program. To date, more than 3,000 DApp projects have been deployed on-chain using the Bunzz platform.
Link to product | Link to TFC listing
ZenLedger
"Get Your DeFi, NFT, & Crypto Taxes Done in Minutes.”
Type of Product: Crypto Tax Platform
Purpose of Tool: ZenLedger is a comprehensive cryptocurrency tax calculator on the market. It offers a variety of features to help you easily calculate your cost basis and capital gains, generate crypto tax forms, and use its unique tax-loss harvesting tool. With ZenLedger, you can keep track of all your crypto transactions in one place, giving you access to the most accurate and up-to-date crypto tax information.
Cost Basis and Capital Gains: ZenLedger’s cryptocurrency tax calculator makes it easy to calculate your cost basis and capital gains, giving you the most accurate information for your taxes.
Crypto Tax Forms: ZenLedger easily generates Schedule 1, Schedule D, and Form 8949 for reporting income, capital gains, and sales & other dispositions.
Tax-Loss Harvesting Tool: ZenLedger’s tax-loss harvesting tool helps you take advantage of tax savings opportunities before the annual December 31st deadline.
Grand Unified Accounting: Unique to ZenLedger! See your entire transaction history across all of your wallets and exchanges in one easy-to-read spreadsheet, with the associated calculated tax.
Team / Funding / Backers / Other Info: Pat Larsen, the CEO, and founder of ZenLedger, announced that the company had successfully raised $15 million through a Series B funding round despite only having raised $11.5 million in its previous round. This comes after the company had managed to secure four contracts with the U.S. government worth just over $500,000.
Link to product | Link to TFC listing
All Crypto Whitepapers | Crypto Wallet | Link to product
Loop | Crypto Payment | Link to product
Topaz | NFTs | Link to product
Dolpin | Privacy | Link to product
Valhalla | Community | Link to product
CoW Protocol | Data Analytics Team Lead | Link to position
WalletConnect | Kotlin / Android Engineer | Link to position
Subspace Labs | Quality Assurance Engineer | Link to position
Usual Company | Senior Web3 Developer | Link to position
Aurora | Legal Counsel | Link to position
Monad Labs | Developer Relations Engineer | Link to position
DXdao | Treasury Manager | Link to position
Offchain Labs | Blockchain Developer | Link to position
prePO | UX Engineer | Link to position
Safe | Senior Data Analyst | Link to position
How was the newsletter today? Your feedback helps me make this great.
Loved it | OK | Didn’t Like
Anything you want to see? Fill out this form and let us know!
Disclaimer: None of this is to be deemed legal or financial advice of any kind. Always DYOR!